That is plausible, but the previous statement said that Wengfu would become an equity partner. To this means they are going to be receiving shares by some means of purchase. Obviously plans can change, but there is no reason to think it will play out as you've suggested based on the current information released by the company.

On the other hand if what the company said was accurate we'd have already been in production for half a year, so I guess you never know.